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German stocks - Factors to watch on July 17
July 17, 2017 / 5:15 AM / 5 months ago

German stocks - Factors to watch on July 17

BERLIN/FRANKFURT, July 17 (Reuters) - The DAX top-30 index looked set to open 0.2 percent higher on Monday, according to premarket data from brokerage Lang & Schwarz at 0634 GMT. The following are some of the factors that may move German stocks:

CONTINENTAL

Indicated 0.2 percent

Using clean diesel technology will add several hundred to a thousand euros the price of a car, CEO Elmar Degenhart told Stuttgarter Zeitung.

DAIMLER

Indicated 0.5 percent lower

Austrian Green party lawmaker Peter Pilz has filed a complaint with Vienna prosecutors against Daimler, alleging deception and serious fraud linked to business deals that accompanied the country’s 2003 purchase of Eurofighter jets.

VOLKSWAGEN,

Indicated 0.3 percent lower

BMW

Indicated 0.1 percent higher

Germany is considering “effective measures” to cut pollution from diesel engines, the transport ministry said on Saturday, reacting to a report by Der Spiegel saying planned goals allowed car makers to shut off emission control technology once outside temperatures fall below 10 degrees. Germany’s annual average temperature was 9.4 degrees in 2016.

DEUTSCHE BANK

Indicated 0.4 percent higher

The European Central Bank is considering carrying out a special assessment of Deutsche Bank’s two largest shareholders Qatar and HNA in an exemption to normal standards, Sueddeutsche Zeitung reported.

SAP

Indicated 0.6 percent higher

SAP named a new executive team in South Africa on Friday, two days after the software giant put four senior managers on leave, pending its investigations into allegations that it was involved in a government bribery scheme.

VONOVIA

Indicated unchanged

The property group has set the cash compensation for Conwert’s minority shareholders at 17.08 euros per share.

Vonovia plans to build 2000 appartments annually CEO Rolf Buch told weekly Welt am Sonntag, adding that with industrialized construction procedures he hopes to bring down costs of new flats to 1800 euros per square meter.

GEA

Indicated 6.7 percent lower

The German food-processing machinery maker cut its 2017 EBITDA target to 600-640 million from 620-670 million euros after a weak second-quarter performance.

OVERSEAS STOCK MARKETS

Dow Jones +0.4 pct, S&P 500 +0.5 pct, Nasdaq +0.6 pct at close.

Japanese markets closed, Shanghai stocks -1.7 pct.

Time: 6.36 GMT.

GERMAN ECONOMIC DATA

No economic data scheduled.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Victoria Bryan, Arno Schuetze and Edward Taylor)

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